CCJ hears CET dispute in its third year
Source: Radio Jamaica
Date April 16, 2008
The Caribbean Court of Justice (CCJ) is to hear its first dispute over the region's Common External Tariff (CET).
The CET is a region wide duty on some goods imported from outside the Caribbean Single Market. Trinidad Cement Limited (TLC) is seeking millions of dollars in damages from the Guyana government following Georgetown's failure to impose the CET on cement imported from outside the region. TCL claims that it lost than US$2 million as a result.
The company had set up a bagging plant in Guyana during the construction boom for the 2007 Cricket World Cup in the Caribbean. However, there were complaints against TCL that it failed to meet local demand for cement at the time.
Wednesday marks the third anniversary of the CCJ.